The number of licensed physicians in Florida increased from 50,586 in 2012 – 2013 to 53,259 in 2013 – 2014. Hospitals in Florida, a key market for Medical Billing Services in Florida, witnessed 346,734 patient days in 2013, marking a 2.7% year-on-year rise. Total revenue generated by Florida hospitals grew by 3.4% year-on-year, reaching $4.3 million in 2013. According to a recent Black Book survey, 19% of hospitals have outsourced coding, a trend likely to reach 50% by 2015.
Here are a few points to keep in mind while finding the right medical billing service in Florida.
Industry Experience
While selecting medical billing services in Florida, practitioners need to look beyond the number of years the company has been in business. They should also check the company’s familiarity with certain specialties since billing procedures varies from one medical specialty to the other.
HIPAA Compliance
The patient information is a highly sensitive data and should be handled with utmost care. Since the medical billing service provider has to deal with all your patients’ crucial health-related information, it is important to ensure that the company you sign up with is HIPAA compliant.
Customized Monthly Reports
Healthcare providers should select a medical billing company that provides frequent reports to help track both, the practice and the billing company’s performance. Practitioners should ideally select a company that provides remote (internet) access to their practice management system. This live interface will help you to monitor the performance of the biller in real-time.
Use of Technology
Before hiring medical billing and coding services in Florida, providers should inquire if the billers are appropriately trained in the usage of medical billing software you use in your clinic. They should be capable of easily and effectively process the insurance as well as patient billing. Handling different types of claims is also a prerequisite. By choosing a biller that integrates with your electronic health record (EHR) or provides their own EHR, profits can be maximized.
Expert Coders
Medical billing and coding is a complex process and requires expertise. The coders should keep up with the latest industry regulations, procedures, and the annual updates on ICD and CPT codes. Having certified personnel on board guarantees error-free billing for you. Check if the staff members employed by the biller are experts in their field.
Rate of Collections
Not all medical billing companies are able to deliver the same percentage of revenue on a claim. One should select a biller that has a high average, as this means they will be able to give your practice the maximum amount of revenue for each billed visit. The biller should also be able to manage the claims denials efficiently and file appeals as soon as possible.
MedicalBillersandCoders.com has billers present in all the major cities like Jacksonville, Miami, Tampa, St. Petersburg and Orlando, and their services extend to almost all other towns and smaller cities. Their medical coders and billers surpass HIPAA compliance. Their specialties include Otolaryngology, Primary Care, Optometry, Family Practice, Hospitalist Billing, Cardiology, OB / GYN, Physical Therapy, Pediatrics, Internal Medicine, and Dental. Thus, with experienced professionals available at a common point of contact, this is one billing partner you can trust for getting customized services according to your budget.
FAQs
Q: Why is industry experience important when choosing a medical billing service in Florida?
A: Industry experience ensures that the billing service is familiar with specific medical specialties, as billing procedures vary between specialties.
Q: What is HIPAA compliance, and why is it important for medical billing services?
A: HIPAA compliance ensures that sensitive patient information is handled securely. It’s essential for protecting patient privacy in medical billing.
Q: How can customized monthly reports benefit healthcare providers?
A: Customized monthly reports allow providers to track both their practice’s and the billing company’s performance, helping monitor revenue and efficiency.
Q: Why should a medical billing company be proficient in technology?
A: Medical billing companies should be skilled in using billing software and EHR systems to efficiently process claims and maximize practice profits.
Q: How can expert coders improve the billing process?
A: Expert coders ensure accurate, up-to-date coding, reducing errors and improving claim acceptance, which increases revenue for the practice.
